TechnipFMC (NYSE:FTI) Trading Down 14.9% – Time to Sell?

TechnipFMC plc (NYSE:FTI) fell 14.9% during trading on Friday . The stock traded as low as $24.90 and last traded at $25.08. 4,198,487 shares were traded during mid-day trading, an increase of 8% from the average session volume of 3,874,430 shares. The stock had previously closed at $29.49.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FTI shares. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Barclays raised their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

TechnipFMC Trading Down 14.9 %

The firm has a market capitalization of $10.56 billion, a PE ratio of 16.52 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $29.50 and its 200 day simple moving average is $29.07.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. TechnipFMC’s payout ratio is 10.42%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,706 shares of company stock valued at $1,651,665. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 4,314 shares during the period. Park Avenue Securities LLC acquired a new stake in TechnipFMC in the fourth quarter valued at about $519,000. Raymond James Financial Inc. acquired a new stake in shares of TechnipFMC in the 4th quarter worth approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.